Coronavirus and the Marketing Industry

The virus is pretty much the only thing a lot of people are thinking about nowadays. After all, we are living in a pandemic that is sweeping across the globe and impacting virtually every aspect of our lives. No matter if you are isolating yourself at home, working from home, or simply having anxiety about what the future looks like, there is a 100% chance that you have been impacted by the virus in some way.

One of the biggest questions a lot of people have is how long this is expected to go on for and how it will continue to impact businesses including the marketing industry. In this article, we will be talking about how the virus is expected to impact marketing in the coming weeks and even months.

While the government in the UK has yet to mandate a nationwide lockdown, they have advised the public to limit their ventures outside. This has ended up causing a dramatic decrease in public spending and it has led a lot of businesses to turn their advertising budgets and their marketing efforts towards online advertising and marketing.

A lot of the larger sporting events have already been impacted and a lot of them cancelled. As a result, major sponsorships have been severed, which has led to a nationwide decline in the TV advertising market.

Online Marketing Spend Has Increased Dramatically

We are predicting that digital advertising spend will continue to increase over the course of the next few weeks and months as more and more consumers are going to be spending a lot more time online. This is especially true as it relates to their spending. These predictions stem from research from Densu Aegis Network who has noted that as many as 14% of businesses they surveyed were moving their budgets online from their traditional offline advertising spend.

Along with this, as people begin to limit their travels and work more from the comfort of their homes, there is expected to be a major increase in social media usage and mobile usage. In fact, there has been research conducted and published by the Global Web Index that found that we are beginning to see a major increase in the number of people who are checking up on their social media accounts throughout every demographic including Gen Z at 27%, Millennials at 30%, Gen X at 29%, and Boomers at 15%. This is not only due to the fact that more people are working from home without the traditional limitations that come from being monitored, but also because people are constantly looking to get frequent news updates about what’s happening throughout the world.

Social Media Advertising Is Expected to Increase

As an increasing number of people begin to spend more and more time on their mobile phones and devices and as they continue to look for more engaging content, it is expected to become even more of a routine for people in order to allow them to express themselves socially. Social media has kept people sane during these unprecedented times of self-isolation.

Because of this, it is anticipated that social media advertising and marketing spending will continue to increase by as much as 22.2% due to the impacts of the virus. This will be driven by brands looking to maximise the power of social media to drive further engagement. There has already been a rise in influencer marketing engagement with recent studies showcasing a whopping 76% increase in daily likes on various Instagram posts throughout the course of the last few weeks.

What Content Are People Looking for during the Pandemic?

When it comes to publishing content during this time, you need to be more conscious and responsible than ever before. After all, consumers are in need of even more support during these unprecedented times and social media is a good vehicle to deliver this type of content.

A lot of consumers are looking towards various trusted brands to deliver the right type of content in the right manner during these times. You should be looking to engage with your audience and create content that delivers your brand message consistently.

Try to create content that is focused on maintaining optimal mental health and physical health during this period. Likewise, you want to craft content that is both engaging and entertaining to keep consumers busy during periods of self-isolation and boredom. Bang Consulting can help with this.